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Emerging Europe Chart Pack (Aug. 2025)

Our Emerging Europe Chart Pack has been updated with the latest data and our analysis of recent developments.

The economies of Central and Eastern Europe generally held up well in Q2 and, despite the higher 15% US tariff applied to the EU this month, leading indicators point to a pickup in regional growth in Q3. In contrast, Russia’s economy is clearly struggling amidst imbalances that have built up due to the war and we expect growth there to underperform analysts' expectations over the coming quarters. We don’t think Russia’s economic problems will have much bearing on Putin’s war aims, and a deal to end the conflict still looks unlikely for some time.

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